BANKSETA ANNUAL REPORT 2023

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2023

15 . ADMINISTRATION EXPENSES (continued)

2022/23

2021/22

15.1 Cost of employment

Note

R’000

R’000

57 415 41 008 14 239

48 632 38 324

Salaries and wages

Basic salaries

Performance awards

7 958

Allowances

241 610

41

Communication allowances

620

Employee settlement

-

38

Leave expense

1 317

1 651

7 720 1 589 4 849

7 420 1 551 4 666

Social contributions

Medical aid contributions

Pension contributions: defined contribution plans

Risk cover contributions Skills Development Levies Workmen’s Compensation

526 533

478 494

79

99

UIF

144

132

65 135

56 052

Allocation of cost of employment Administration expenses

65 135

56 052

15

67

65

Average number of employees

Refer to the corporate governance report for disclosure of by the Accounting Authority members. Notes 23 and 24 detail the emoluments of members of the Accounting Authority, independent board committee members and the executive management group.

163

BANKSETA ANNUAL REPORT 2022/23